Lawmakers approve incentives for pipe plant

JACKSON, Miss. (AP) - Mississippi lawmakers have quickly approved incentives for a German company that intends to build a high-tech pipe manufacturing plant in the northwestern corner of the state.

Within five hours after the 2010 legislative session began Tuesday, both chambers had passed a bill providing $15 million in bonds to help Wilh. Schulz GMBH build the plant in Tunica County, about 20 miles south of Memphis, Tenn.

It will be Schulz's first manufacturing plant in the U.S., and workers will make stainless steel pipes to be used in the oil and gas industry.

The package also allows the state to guarantee a $20 million loan to help the company buy $60 million of heavy equipment.

Company officials say construction could begin soon, and the plant could open in early 2011.

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